The Reader: The publishing industry must go on-chain! Book investment must be NFTed!

The advent of the digital age will bring new opportunities for the development of the creator economy, which is driven by three core elements: the first is the creator, which can also be understood as the creator's work or IP. The creator himself determines the value of a work, as well as how much revenue it can ultimately bring and how many audiences it has. The development of the AIGC will provide assistance to creators in the selection of titles and the collection of material. The second is the method of publication and distribution. Creators' works can achieve copyright protection and faster publication with the help of blockchain technology innovation. In addition, a decentralized community-based organization will not only strengthen the connection between creators and supporters for better writing, but also greatly accelerate the reach of the book's audience by using supporters as dissemination nodes, breaking the existing platform monopoly and geographical restrictions, and allowing the work to spread further. The third is the value distribution mechanism. From the previous distribution method where the platform takes the lion's share and the creator takes the small share, the creator, NFT investors, and readers will work together to create and disseminate and share the revenue.

The Reader is targeting such a $70 billion book publishing market, with the model of book online publishing + book NFT crowdfunding + e-book distribution + reading for money, launching a Web3 revolution in the publishing industry, returning value to creators and readers.

The Reader's system works

Book Publishing: Authors/copyright holders can publish their books NFT and upload their e-books in just 2 minutes, with ownership contracts on the chain and decentralized permanent storage of their works.

Book Investment and Reading: Users can invest in any book NFT or buy any eBook on the market to read. By acquiring a book NFT will have a variety of book rights given by the copyright owner, and will also receive the distribution rights of the e-book and a certain number of hours of reading-to-earn per day. In other words, by acquiring an NFT, you are an equity investor in the book.

User benefits and consumption:

There are three main types of income: NFT value-added income from distributing the book to increase its IP value (about 90% of user income); a high percentage of commission from distributing the e-book (about 10% of user income); and reading income (about 1% of user income). Users can reinvest their earnings to earn more income or purchase character skins, author peripheral rights, etc. to spend.

How do you measure the value of a book?

A thousand readers have a thousand Hamlets, and the emotional and intellectual value of a book is different for everyone. The Reader quantifies the value of a book's IP in terms of commercial value through a number of indicators such as readership, ratings, and completion rates, and introduces the concept of a book's IP rating and gives it an initial price within its system.

Book IP Rating = NFT Equity Resale Value + Daily Earnable Reading Hours + How Much Money You Can Earn Per Minute.

Through this rating system, writers or publishers produce quality books to attract more NFT investors; investors will spread the word in order to add value to NFT and receive commissions for distributing the books, bringing in more readers; readers will be happy to pay more money to writers because they can not only read the latest and fastest published works of their favorite authors but also earn income through investment, distribution, and reading; the more the writers earn, the more they will be motivated to produce more quality works.

Revenue Structure The Reader

The Reader Treasury is made up of 4 main parts.

①Book NFT Trading Royalties

②A small percentage draw on eBook sales.

③Open licensing fees, other selling platforms can request authorization from authors and publishers via API to pull books for sale.

④Mortgage interest and loan rate differentials in the book NFT market.

The Reader's confidence

It's not at all surprising that The Reader's team does the publishing track. This team is very familiar with the publishing industry, with 7 years of experience in book industry start-ups, 14 years of product, operation, and project management design; 10-17 years of development experience, with 4-5 years of blockchain project experience for technical Leaders and consultants, and enough understanding of the crypto industry; 10+ years of marketing experience with well-known games and brands, and familiarity with IP operations and cross-border collaboration.

The Reader has now built a promotional alliance of over 200,000 telegram groups and Twitter followers, several Web3 media and celebrity agent resources, and partnerships with well-known online writing platforms and headline award-winning titles. Just ask who wouldn't want to invest in the next Three Bodies by buying NFT?

The rise of the creator economy has gone from being a possible option to a real trend. Whether it is based on blockchain, the NFT economic system, or a self-built economic system within the platform, Web3's creator ecosystem is already taking shape. Creators can use ecological tools to complete content production and realize revenue through platforms, trading markets, communities, and other channels. The Reader has its sights set not only on the overseas Chinese and English reading markets but also on more languages in other major publishing markets in the future, as well as collaborating with overseas stars to publish books and attract fans to the Web3 world. The Reader revolutionizes the publishing industry by changing the way publishing is done, how it is distributed, and how the benefits are distributed. The incentives for creators are mainly NFT sales of books, NFT resale royalties, royalties on 90%+ of ebook sales, peripheral sales, and platform rewards; the incentives for readers are not only the common reading rewards of other reading programs but also the value-added NFT and ebook distribution revenues that come with the growth of the book IP.

The value of ook NFT comes from the IP, IP value growth comes from more people’s reading, and reading will be reflected in data. The Reader expects to be a valuable investment in the NFT market by replacing the emotion-driven PFP NFT with a book NFT where data is the fundamentals.

The Reader proposes to distribute books, copyright NFT and IP rating quantification should be considered the first in the reading industry, other competing products are basically NFT = reading rights; and regarding the co-creation part that many projects involve, The Reader believes that since there are DAO organizations doing community co-creation works, there is no need to seek the whole thing. In the end, any creator-related innovation is really the core of what really moves creators to move in, in terms of how much tangible wealth they can reap in return. As for readers? They can read books and earn money, the more such platforms the better.